At the conclusion of each tax period, businesses registered for VAT, also known as taxable persons,
are required to submit a "VAT return" to the Federal Tax Authority (FTA). The VAT return provides a
summary of the taxable person's supplies and purchases during the tax period, outlining their VAT
liability. In the UAE, VAT returns must be filed on a quarterly basis in accordance with tax laws.
According to government regulations, corporation tax return specialists or authorized legal agents are permitted to submit VAT returns on behalf of the taxable person. As the law allows individuals and companies to engage VAT filing agents, it is crucial to partner with VAT return services that offer reasonable rates and possess the knowledge and expertise to handle VAT return filing in compliance with UAE VAT laws.
VAT return filing in the UAE refers to the process of submitting a VAT return to the Federal Tax
Authority (FTA) by registered businesses, also known as taxable persons, to report their VAT
transactions and fulfill their tax obligations.
A VAT return is a document that provides a summary of the taxable person's supplies and purchases during a specific tax period, typically on a quarterly basis in the UAE. The VAT return includes information such as the value of taxable supplies, exempt supplies, zero-rated supplies, and any applicable VAT on purchases or expenses. It calculates the net VAT liability or VAT refund based on the difference between output VAT (tax collected from customers) and input VAT (tax paid on purchases).
Registered businesses are required to file their VAT returns within the specified time frame set by the FTA, typically within 28 days following the end of the tax period. The VAT return must be accurately completed, ensuring that all relevant transactions and calculations are reported correctly.
In the UAE, VAT returns should be filed on a quarterly basis, as per the regulations set by the
Federal Tax Authority (FTA). The specific deadlines for filing VAT returns are determined based on
the tax period assigned to each registered business.
Generally, the deadline for filing VAT returns in the UAE is within 28 days from the end of the tax period. The tax period is typically three months, and businesses are required to submit their VAT return within this timeframe.
For example, if the tax period is from January to March, the VAT return for that period should be filed by the end of April. If the tax period is from April to June, the VAT return should be filed by the end of July, and so on.
FBC is dedicated to providing comprehensive assistance and support to businesses in their VAT return
filing process. We understand the complexities and requirements of VAT compliance in the UAE, and
our team of experts is equipped with the knowledge and expertise to guide businesses through the
entire VAT return filing journey.
With our services, businesses can benefit from the following:
1. Expert Guidance
2. Accurate Calculation
3. Timely Submission
4. Compliance Assurance
5. Ongoing Support
The process of VAT return filing in the UAE involves several steps to ensure accurate reporting and
compliance with the regulations set by the Federal Tax Authority (FTA). Here is an overview of the
VAT return filing process:
1. Maintain Accurate Records: Businesses must maintain accurate and up-to-date records of their taxable supplies, exempt supplies, input VAT, and output VAT. It is crucial to properly categorize and track all relevant transactions throughout the tax period.
3. Prepare VAT Return: Using the FTA-approved accounting software, compile the necessary information and prepare the VAT return form. This form includes details such as the value of taxable supplies, exempt supplies, input VAT, output VAT, and net VAT liability.
4. Verify Accuracy: Review the VAT return for accuracy, ensuring that all figures and calculations are correct. Verify that the VAT return aligns with the business's financial records and any adjustments or corrections are properly reflected.
5. Submit VAT Return: Electronically submit the VAT return through the FTA's designated online portal or approved channels. Ensure that the VAT return is submitted within the specified timeframe, typically within 28 days from the end of the tax period.
6. Pay VAT Liability: If there is a VAT liability, businesses must make the payment to the FTA within the designated timeframe. Payments can be made online through the FTA's portal or approved payment methods.
7. Retain Records: It is important to retain all relevant records, supporting documents, and VAT invoices for a specified period, as required by the FTA. These records may be subject to review or audit by the tax authorities.
8. Compliance Monitoring: Continuously monitor changes in VAT regulations, stay updated with any updates or announcements from the FTA, and ensure ongoing compliance with VAT requirements for future tax periods.
It is recommended that businesses seek professional assistance from VAT experts or consultancies to ensure accurate VAT return filing and compliance with the UAE's VAT regulations.
Take control of your business finances and ensure accurate financial records with our professional VAT return filing services. Book now to streamline your financial management and gain peace of mind knowing your financial transactions are in expert hands.
You can book your appointment by just dialing or sending a WhatsApp message to +971 52 302 7682
You will be assigned to a respected consultant based on your requirements. Our skilled experts will then get in touch with you for consultation.
If all of the necessary facts and documentation are provided during the consultation, our professionals will complete the work in the shortest period feasible.